Rouse calls convertible preferreds

New York, Jan. 7 - The Rouse Co. said it will redeem all its series B convertible preferred stock on Feb. 10.

On redemption the preferreds will be converted into common stock at the conversion price of $38.125.

For each share with a $50 liquidation preference, holders will receive 1.31147541 shares of common stock.

Rouse paid the $0.75 per preferred share dividend on Jan. 2. No payment will be made for further accrued dividends.

As of Sept. 30, Rouse had 4.05 million shares of the preferreds outstanding or $202.5 million, according to a filing with the Securities and Exchange Commission.

Rouse is a Columbia, Md., real estate development and management company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.